Private equity firm Green Arrow Capital has entered into a joint venture (JV) with energy producer Gruppo Lazzari to invest more than €1 billion ($1.16bn) in a network of data centers across Italy. The initiative will be implemented through Core Stack, a company that Gruppo Lazzari launched in 2025 to develop high-performance and low-latency data centers powered by on-site renewable energy. Core Stack currently has 11 projects underway.
Green Arrow Capital and Gruppo Lazzari said that the joint venture has a “substantial” pipeline of projects with a “significant share” expected to achieve approval for construction in 2026. Each new data center will have a renewable energy plant next to it configured under a “self-consumption model” to support the facilities’ operations.
